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Jones Lang LaSalle (JLL) Q1 Earnings Beat, Decrease Y/Y
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Jones Lang LaSalle Inc. (JLL - Free Report) which shortened its name to “JLL”, reported first-quarter 2017 adjusted earnings of 45 cents per share, beating the Zacks Consensus Estimate of 38 cents. However, the bottom line came in lower than the first-quarter 2016 adjusted earnings of 82 cents per share.
The quarter reflected robust growth in revenues and rise in market share.
Revenues in the quarter came in at around $1.62 billion, surpassing the Zacks Consensus Estimate of $1.45 billion. Revenues were up 20.8% year over year. Fee revenues increased 21.3% year over year to $1.36 billion.
Revenue Growth
During the quarter, fee revenues from the Americas were $678.4 million, denoting a year-over-year increase of 22%. Fee revenues in the EMEA (Europe, the Middle East and Africa) region grew 40% year over year to $359.7 million, while that in the Asia-Pacific region increased 14% year over year to $233.6 million.
Revenues from LaSalle Investment Management segment declined 12% year over year to $88.2 million. At the end of the first quarter, assets under management were $58 billion, down from $60.1 billion at the end of the prior quarter.
Liquidity
JLL enjoys credit facility of $2.75 billion with the maturity date of Jun 2021.
JLL exited the quarter with cash and cash equivalents of $223.1 million, down from $240.4 million as of Dec 31, 2016. At the end of the first quarter, the company’s net debt was $1.49 billion, reflecting an increase of $1.27 million from the prior-quarter end.
Our Viewpoint
JLL’s diversified product & services range, extensive knowledge of domestic & international real estate markets and a spate of strategic investment activities will aid its growth momentum. However, stiff competition and uncertainty in certain global economies remain concerns.
Currently, JLL carries a Zacks Rank #5 (Strong Sell).
Some real estate companies which are expected to report results later this week include Mack-Cali Realty Corporation , Regency Centers Corporation (REG - Free Report) and Farmland Partners Inc. (FPI - Free Report) .
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
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Jones Lang LaSalle (JLL) Q1 Earnings Beat, Decrease Y/Y
Jones Lang LaSalle Inc. (JLL - Free Report) which shortened its name to “JLL”, reported first-quarter 2017 adjusted earnings of 45 cents per share, beating the Zacks Consensus Estimate of 38 cents. However, the bottom line came in lower than the first-quarter 2016 adjusted earnings of 82 cents per share.
The quarter reflected robust growth in revenues and rise in market share.
Revenues in the quarter came in at around $1.62 billion, surpassing the Zacks Consensus Estimate of $1.45 billion. Revenues were up 20.8% year over year. Fee revenues increased 21.3% year over year to $1.36 billion.
Revenue Growth
During the quarter, fee revenues from the Americas were $678.4 million, denoting a year-over-year increase of 22%. Fee revenues in the EMEA (Europe, the Middle East and Africa) region grew 40% year over year to $359.7 million, while that in the Asia-Pacific region increased 14% year over year to $233.6 million.
Revenues from LaSalle Investment Management segment declined 12% year over year to $88.2 million. At the end of the first quarter, assets under management were $58 billion, down from $60.1 billion at the end of the prior quarter.
Liquidity
JLL enjoys credit facility of $2.75 billion with the maturity date of Jun 2021.
JLL exited the quarter with cash and cash equivalents of $223.1 million, down from $240.4 million as of Dec 31, 2016. At the end of the first quarter, the company’s net debt was $1.49 billion, reflecting an increase of $1.27 million from the prior-quarter end.
Our Viewpoint
JLL’s diversified product & services range, extensive knowledge of domestic & international real estate markets and a spate of strategic investment activities will aid its growth momentum. However, stiff competition and uncertainty in certain global economies remain concerns.
Currently, JLL carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Jones Lang LaSalle Incorporated Price, Consensus and EPS Surprise
Jones Lang LaSalle Incorporated Price, Consensus and EPS Surprise | Jones Lang LaSalle Incorporated Quote
Some real estate companies which are expected to report results later this week include Mack-Cali Realty Corporation , Regency Centers Corporation (REG - Free Report) and Farmland Partners Inc. (FPI - Free Report) .
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>